Back 40 Firearms - Athens, TX

BACK 40 FIREARMS ATHENS, TX

PRI CING & F INAN CI AL AN ALYSI S

B AC K 4 0 F IR E AR M S - AT H E NS, T X

Back 40 Firearms 112 N Palestine St Athens, TX 75751

OFFERING SUMMARY Price Cap Rate Net Operating Income Year Built Gross Leasable Area Lot Size

$195,000 6.59% $12,852 1890 2,500 SF 0.08 Acres

LEASE SUMMARY Lease Term

ANNUALIZED OPERATING DATA 4 Years

Year(s)

Commencement

Annual

Increase

9/1/2018

1

9/1/2018

$12,000

-

Lease Expiration

8/31/2022

2

9/1/2019

$12,600

5.00%

Remaining Term

1+ Years

3

9/1/2020

$12,852

2.00%

Gross Rent

4

9/1/2021

$13,104

1.96%

Lease Commencement

Lease Type Roof & Structure Increases

Landlord

NET OPERATING INCOME

$12,852

Annual

Options

None

Options to Purchase

None

Lease notes: The Landlord is responsible for: roof, skylights, foundation, structural components and the structural portions of exterior walls of the Premises.

For Financing Options, Please Contact: Greg Holley | Managing Partner High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com

Tenant does not reimburse for property insurance.

Tenant does not reimburse for property taxes.

Repair Addendum - Tenant is responsible for all maintenance and repairs, including structural, electrical, HVAC, and plumbing up to a maximum of $500 per category per year. Any work falling outside of this limit, will need to be approved by the landlord

F I N A N C I A L A N A LY S I S

2

I N VE S TMENT HI GHLI GHT S • Very Low Price Point in the Square (Downtown) in Athens, TX • Low Rent – Only Slightly Above $1,000/Month

B AC K 4 0 F IR E AR M S - AT H E NS, T X

SNAPSHOT

• High Traffic, Walkable Area • Extremely Unique – The Building Has Been Around Since 1890 • Excellent Location – Located Directly in the Heart of the Square. This a Tourist Destination for Texans. Only 15 Minutes Away from Lake Athens • The Gun Industry Around the USA has Record Breaking Gun Sales this Year – Approximately 19 Million Firearms have been Sold in the First Six Months of 2020 • Athens is Home to UT Health Athens which has 127 Staffed Beds and has 467 Employees. It is a Short Term Acute Care Facility that brings in over $591 million in Total Patient Revenue • Traffic Counts for E Tyler St Exceed 11,000 Vehicles Per Day and Traffic Counts for N Palestine St Exceed 8,000 Vehicles per Day

11,000

$63,979

Estimated Vehicle Per Day

Average Household Income

17,496 Population: 5 Mile Radius

• Surrounding National Retailers Include Verizon, Taco Bell, Schlotzky’s, Dickey’s, Subway, Ace Hardware, Family Dollar, Save-A-Lot and Many More.

PROPERTY DESCRIPTION

3

B AC K 4 0 F IR E AR M S - AT H E NS, T X S I T E PL A N

S E Y’ Y ORN PAN AT TE COM TITL X AS G T TERINTIN P E AS EEN SCR Y’ SE DS E LIN NITU RY FU RALLE R G R E ZE NIN ON REE SA L T H

O

U R E BA R FUTR ANT/ TAU

0 K 4MS BAC E AR FI R

RES

IZO

N

S HY’ K ATTIQ U E BOU

VE R

T INE S LE S T N PA

4 PROPERTY DESCRIPTION

B AC K 4STAR 0 F IRBEUAR ATLIE H E,NS, C KMS S- -WY TX TX

TY

HENDERSON COUNTY COURTHOUSE

E LE R ST

W CO RSICA N

A ST

PRO PERT Y IMAGERY

E ST N PALESTIN

MARKET OVERVIEW

5

A E R I AL MA P

B AC K 4 0 F IR E AR M S - AT H E NS, T X

T Y LE R ST

CORSICANA ST

ATHENS SENIOR HIGH SCHOOL

PALESTINE ST

CENTRAL ATHENS ELEMENTARY SCHOOL

TRINITY VALLEY COMMUNITY COLLEGE

PROPERTY DESCRIPTION

6

LO C AL MA P

B AC K 4 0 F IR E AR M S - AT H E NS, T X

PROPERTY DESCRIPTION

7

REG IONA L MA P

B AC K 4 0 F IR E AR M S - AT H E NS, T X

PROPERTY DESCRIPTION

8

M A R KET OVERVI EW

B AC K 4 0 F IR E AR M S - AT H E NS, T X

Athens, TX

OVERVIEW Athens is a city and the county seat of Henderson County, Texas. It is situated in Northeast Texas at the western edge of the Piney Woods, about 30 miles southwest of Tyler, Texas, and 65 miles southeast of the Dallas–Fort Worth Metroplex. Athens sits at the intersection of Texas State highways 19 and 31 and U.S. Route 175 at the center of Henderson County. The population of the city was 12,704 people according to a 2017 U.S. Census estimate.

Athens came to be as a city and as the seat of Henderson County after the first two county seats lie outside of the county’s new boundaries that were delineated in 1850. Athens was first incorporated in 1856 and reincorporated in 1901. The city of Athens was named after Athens, Greece, by one of the town’s earliest residents.

Trinity Valley Community College, established in 1946, provides postsecondary education to the region. With the main campus in Athens, and satellite locations in Kaufman, Palestine and Terrell, students at TVCC can earn degrees and certificates in 15 different fields.

Athens is known as the “Black-Eyed Pea Capitol of the World” due to the city’s capacity to grow, process, can and eat the food. The slogan dates from at least 1971, when Athens hosted the first of its annual blackeyed pea festival. Additionally, Athens was selected as one of the first “Certified Retirement Communities” in Texas. Another attraction in Athens is the Athens Scuba Park, a world-class dive site that offers ample diving in a 35-foot deep, 8-acre spring-fed lake.

Opened in 1987, the park features underwater wrecks of buses, airplanes and boats, plus caves and other locations suitable for both recreational diving and the training of new divers.

Athens is reported to be the locale where the American hamburger was invented by Fletcher Davis in the 1880s at his downtown cafe. The delicacy was so popular that in 1904 a group of Athens businessmen raised enough money to send the inventor to the St. Louis World’s Fair, where the hamburger was introduced to the world. The invention also led to Athens’ annual celebration of the “Hamburger Festival.”

MARKET OVERVIEW

9

D E M OG RA PHIC STAT I ST I CS

B AC K 4 0 F IR E AR M S - AT H E NS, T X

1 Mile

3 Mile

5 Mile

Population: 2024 Projection

6,177

14,301

18,165

2019 Estimate

5,921

13,693

17,494

2010 Census

5,763

13,240

17,496

Growth 2020-2025

0.9%

0.9%

0.8%

2019 Population Hispanic Origin

2,237

4,300

4,864

White

4,294

10,769

14,298

Black

1,357

2,341

2,475

2020 Population by Race:

Am. Indian & Alaskan

72

141

181

Asian

67

133

147

Hawaiian & Pacific Island Other U.S. Armed Forces:

7

13

16

124

296

378

0

0

0

Households: 2025 Projection

2,167

5,233

6,688

2020 Estimate

2,075

5,004

6,437

2010 Census

1,873

4,416

5,840

Growth 2020-2025

0.9%

0.9%

0.8%

Owner Occupied

1,020

2,820

3,965

Renter Occupied

1,056

2,184

2,472

2020 Avg Household Income

$57,923

$62,047

$63,979

2020 Med Household Income

$29,883

$34,622

$39,184

<$25,000

911

1,921

2,285

$25,000 - $50,000

537

1,150

1,523

$50,000 - $75,000

225

695

930

$75,000 - $100,000

81

283

413

$100,000 - $125,000

98

267

403

$125,000 - $150,000

56

255

341

$150,000 - $200,000

26

192

235

$200,000+

140

241

308

2020 Households by Household Inc:

Demographic data © CoStar 2020

MARKET OVERVIEW

10

CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenantâ&#x20AC;&#x2122;s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

Net Lease Disclaimer STRIVE hereby advises all prospective purchasers of Net Leased property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Information About Brokerage Services

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material information about the property or transaction received by the broker; • Answer the client’s questions and present any offer to or counter-offer from the client; and • Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and • buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose: ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duties and responsibilities to you, and your obligations under the representation agreement.

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Regulated by the Texas Real Estate Commission

Information available at www.trec.texas.gov IABS 1-0

exclusively listed 469.844.8880

STRIVERE.COM